VIGIL RECEIVABLES
Five independent verification checks.
One report your monitoring committee can rely on.
A ledger entry is what the borrower provides.
A verified receivable is what the lender can trust.
Vigil Receivables independently verifies the receivable pool through five critical questions every institutional lender should have answered before relying on receivables as security.
Five Questions
01

Are the receivables consistent with the sanctioned end-use?

Vigil examines the receivables in the pool, verifying that they are of the type and nature permitted under the sanction terms.

Receivable schedule submitted by borrower
Type & nature checked against sanction terms
Yes — matches sanction terms Eligible
No — flag raised Pool made ineligible
02

Does receivable ageing and DPD match the borrower's reporting?

Vigil independently recomputes receivable ageing from the underlying repayment schedule and collection data, rather than relying solely on borrower classifications.

Ready to approve
Receivable ageing & DPD
Summary

Recomputed ageing matches the borrower's reported DPD across the pool.

Flagged for review
Receivable ageing & DPD
Summary

Accounts that have slipped into delinquency are surfaced before the lender.

Do the receivables in the borrower's LMS match the receivables reported to the lender?

  • ✓Reconciles receivables across the borrower's LMS and lender reporting schedules.
  • ✓Identifies inconsistencies between the two datasets.
  • ✓Traces every inconsistency back to its source.
  • ✓Shows where the reported portfolio diverges from the underlying records.

Do the management certified debtors acknowledge what they owe?

  • ✓Confirms receivable balances with selected debtors.
  • ✓Identifies disputed, unrecognized or unconfirmed receivables.
  • ✓Documents all exceptions for the lender.

Is the required security cover being maintained?

  • ✓Verifies security cover and receivable eligibility.
  • ✓Identifies duplicate or multiple lender hypothecation indicators.
  • ✓Reports the receivables that genuinely support the security.
Receivable Validation Across Industries
Illustrative workflows showing how Vigil Receivables validates receivables across different industries.
NBFCs and HFCs
Manufacturing and Trade
Infrastructure and EPC
Vigil Receivables — Verification Workflow
In Progress
Scan in process..
Meridian Finance Ltd
CIN: U65922DL2015PTC281764
RECEIVABLE SCHEDULE
Ref: MFL/RS/Q1/2026/014
As at 30 June 2026
Submitted To
Northbridge Capital
Pool Reported
₹554.54 Cr
Cover
120%
BorrowerSanction (₹Cr)O/S (₹Cr)DPD
MRT Ventures LLP170.90142.440
ABC Corporation Pvt Ltd102.7085.600
XYZ Urban Holdings LLP94.1078.450
PQR Residency LLP85.4071.200
GHI Realty Ventures LLP79.0065.800
JKL Structures Pvt Ltd70.7058.900
NOP Commercial Spaces LLP62.6052.150
Total Receivable Pool
₹554.54 Cr
Ashwin Rao
Ashwin Rao
Managing Director
Receivable schedule reviewed
Scan in process..
Meridian Finance Ltd
CIN: U65922DL2015PTC281764
DPD MOVEMENT SCHEDULE
Ref: MFL/DPD/Q1/2026/014
As at 30 June 2026
QuarterRegular0-3031-6061-9091-180
Sep-25532.9710.943.212.263.27
Dec-25547.600.760.770.984.04
Mar-26541.271.391.171.0510.61
Jun-26539.411.611.381.1211.02
DPD movement checked
Loan Management System
Analysing records
Receivable Schedule submitted to Lender
Analysing records
Reconciliation done
Lender notified of discrepancies
Scan in process..
Sundara Fabrication Works Pvt Ltd
CIN: U28920GJ2011PTC065432
TRADE RECEIVABLE SCHEDULE
Ref: SFW/TRS/Q1/2026/009
As at 30 June 2026
Submitted To
Northbridge Capital
Total Receivables Reported
₹350.00 Cr
Cover
122%
CustomerAmountAge
Amalta Industries₹82.40 Cr18 days
MTP Pipes Private Limited₹74.15 Cr27 days
Sulmania Engg₹61.30 Cr42 days
Kavya Textiles Ltd₹55.60 Cr51 days
Bhavani Steel Traders₹48.25 Cr65 days
Orion Polymers Pvt Ltd₹28.30 Cr73 days
Total Receivables Reported
₹350.00 Cr
Karan Bhatia
Karan Bhatia
Managing Director
Trade receivable schedule reviewed
Debtor Acknowledgement Status
DebtorStatus
Amalta IndustriesConfirmed
MTP Pipes Private LimitedPending
Sulmania EnggDisputed
Debtor confirmation obtained
Sales Register Receivable Schedule
Matching
Matching
Mismatch
Sales records reconciled
Lender notified of discrepancies
Scan in process..
Varenya Infraprojects Ltd
CIN: U45201MH2013PLC248017
PROJECT RECEIVABLE SCHEDULE
Ref: VIL/PRS/Q1/2026/021
As at 30 June 2026
Submitted To
Northbridge Capital
Total Receivables Reported
₹600.00 Cr
Cover
131%
ProjectRA Bill AmountCertified %
Konkan Highway Package IV₹145.60 Cr82%
Vindhya Metro Corridor₹128.30 Cr64%
Trident Bridge Works₹112.75 Cr91%
Sahyadri Bridge Corridor₹98.40 Cr76%
Amravati Flyover Package II₹72.15 Cr58%
Coastal Highway Extension₹42.80 Cr88%
Total Receivables Reported
₹600.00 Cr
Neel Kapadia
Neel Kapadia
Managing Director
Project Receivable Schedule Reviewed
Running Account Bill
Engineer Certificate
Billing Month
Matching...
Billing certification verified
Work Completion Date
Certified Date
Reporting Period
Reporting period validated
Lender notified of discrepancies
From Verification to Decision
Every exception is supported by evidence, quantified by impact, and consolidated into a single institutional report for the lender.
Vigil Receivables Report
Post-Disbursement Audit · Q1 2026
Five verification checks completed across the receivables pool, with all exceptions documented for lender review.
Finhive Capital Private Limited
DPD Misclassification
Reported DPD does not match verified overdue days.
Reported by BorrowerVerified by Vigil
Current
0 Days
31–60 DPD
38 Days
Receivable Outside Sanction Terms
Receivable does not match the sanctioned end-use.
Reported by BorrowerVerified by Vigil
Gold Loan
Receivable
Eligible
LAP
Receivable
Ineligible
Debtor Confirmation Exception
Debtor confirmed balance is lower than reported.
Reported BalanceDebtor Confirmed
₹24.80 Cr
₹20.80 Cr
Difference
₹4.00 Cr
Security Cover Shortfall
Verified security cover is lower than required.
Required CoverVerified Cover
125%
108%
Shortfall
17%
ROUTED TO LENDER
See What Vigil Finds in Your Receivables
Independent verification that surfaces the exceptions traditional monitoring often misses.